|Tritax Big Box REIT plc
|£250m equity fundraising and associated £370m acquisition of db Symmetry
|About the client:
|Tritax Big Box REIT is a leader in the UK and the first listed entity to give pure exposure to the Big Box asset class
|About the transaction:
The fundraise (which was significantly over-subscribed) was conducted to fund the acquisition of db Symmetry, a Big Box developer with a total land portfolio of over 2,500 acres which is estimated to be able to deliver over 38m sq. ft. of new Big Box and logistics assets in the UK.
The portfolio is expected to contribute materially to the Company’s ability to continue to deliver strong earnings growth, the assets are targeting an average yield on cost of 7-8%, whereas at the time of acquisition the Company’s valuation yield was 4.4%.